The Matthews Board of Commissioners has approved the Fiscal Year 2009-2010 budget. This budget focuses on maintaining current services for citizens during this economic recession without increasing any fees or the property tax rate.
The approved budget for the Town is $17,914,505. This is $512,122 less or a 2.78% decrease from the 2008-09 budget. There are no proposed tax or fee increases in the budget. The tax rate will remain at .3325 cents per $100 valuation. “This is a difficult time for everyone. Revenues have dropped as sales tax and our other sources of income have dropped. This year’s budget reflects our efforts to maintain the services we provide to our citizens. We are holding our own with this budget. We are deferring or delaying equipment, vehicles, staff training, and employee items until the economy improves,” said Matthews Town Manager Hazen Blodgett.
The Town is projecting a 2 percent decrease in property tax revenues and a 9.2 percent decrease in sales and excise tax revenues. “We are monitoring our revenues very closely and will make adjustments to the budget if necessary. Just like everyone else we are hopeful that the economy will stabilize and we will be able to accomplish all of our goals this year.” Continue reading